NEWARK, N.J.--(BUSINESS WIRE)--Prudential Mortgage Capital Company today announced that Hal Collett has been promoted to president of Prudential Asset Resources replacing Catherine Rodewald, who announced her decision to retire at the end of 2012. Prudential Mortgage Capital Company is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU).
Collett will be responsible for the servicing and asset management operations associated with Prudential Mortgage Capital Company’s commercial real estate loan portfolios valued at $69.42 billion. He joined Prudential Mortgage Capital Company in 2002, serving in multiple roles within Prudential Asset Resources. Most recently, he was vice president of asset management and credit surveillance.
“We are excited to have an executive with the breadth and depth of Hal’s experience to lead Prudential Asset Resources,” said David Twardock, president of Prudential Mortgage Capital Company. “Our clients can expect the same superior quality service they have come to expect from Prudential under Hal’s capable leadership.”
Before joining Prudential, Collett was manager of investor reporting at ORIX Capital Markets where he also served as a special servicer asset manager. He began his commercial real estate industry career at Bank One followed by five years at Nomura, an international investment banking and securities firm.
Collett earned a bachelor’s degree from Texas Tech University and an MBA from The University of Texas at Arlington. He is based in Dallas and will report to Twardock.
During her 11-year tenure, Rodewald earned numerous awards including the 2009 Athena Award presented by the Dallas Regional Chamber of Commerce and the Mortgage Bankers’ Association’s 2011 Distinguished Service Award, which is the highest level service award granted by the MBA.
Prudential Mortgage Capital Company is a national full-service, commercial and multifamily mortgage finance business with $72.67 billion in assets under management and administration as of September 30, 2012. Leveraging a 135-year history of real estate finance, the company offers one of the most comprehensive lines of real estate finance products and originates loans for Fannie Mae DUS®, Freddie Mac Program Plus® and specialized affordable housing programs; FHA; Conduit; Prudential’s general account and proprietary balance sheet program; and other institutional investors. The company maintains a loan servicing portfolio of approximately $69.42 billion, as September 30, 2012. For more information, please visit http://www.prumortgagecapital.com.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $1.005 trillion of assets under management as of September 30, 2012, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.